BMO Capital Markets Issues Positive Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its price objective boosted by BMO Capital Markets from C$134.00 to C$138.00 in a research note published on Wednesday,BayStreet.CA reports.

Several other research firms have also recently commented on TIH. National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. National Bankshares cut their price target on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Raymond James cut their price target on shares of Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday, November 6th. CIBC boosted their price target on shares of Toromont Industries from C$128.00 to C$129.00 in a research report on Monday, February 3rd. Finally, Scotiabank cut their price target on shares of Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$134.88.

Toromont Industries Trading Up 3.4 %

TIH opened at C$121.29 on Wednesday. The stock has a market capitalization of C$9.93 billion, a P/E ratio of 19.34, a P/E/G ratio of 3.72 and a beta of 0.68. Toromont Industries has a 12 month low of C$109.83 and a 12 month high of C$135.53. The firm’s fifty day simple moving average is C$115.19 and its 200 day simple moving average is C$121.13. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08.

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, January 6th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.58%. Toromont Industries’s payout ratio is 30.62%.

Insider Activity

In related news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the stock in a transaction on Tuesday, December 10th. The shares were purchased at an average cost of C$111.45 per share, with a total value of C$501,525.00. 0.27% of the stock is owned by insiders.

Toromont Industries Company Profile

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.